Proof of debts: creditors must prove claims by the fixed date or be excluded from distributions.

The Liquidator in Tribunal winding up must, and the LLP Liquidator in voluntary winding up may, fix a day (not less than fourteen days from the notice under rule 138) by which creditors must prove their debts or claims and establish priority; failure to prove by that date may result in exclusion from the benefit of any distribution or from objecting to such distribution, subject to the Act and Tribunal directions.

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